Oil and Gas in Latin America

[Pages:35]Oil and Gas in Latin America

South America Hydrocarbon

provinces

U. S. Geological Survey Open-File Report 97-470D

Map of Central

and South America

? Assessed provinces (red areas), province boundaries (red), and country boundaries (black).

U.S.Geological Survey World Energy Assessment Team (USGS), 2000

Mesoamerica and Caribbean Main Oil Provinces

Petroleum field location Province boundary line

Latin America Production of Crude Oil, Natural Gas Plant

Liquids, and Other Hydrocarbons, 2001

Country

2001

State oil Company

(Thousand Barrels per Day)

Mexico*

3,590 Pemex, monopoly

Venezuela* Brazil*

3,080 1,561

PdVSA nationalized 1976

Petrobras joint

Argentina*

829 YPF Privatized-sold

Colombia*

614 Ecopetrol monopoly

Ecuador* Trinidad&Tobago

421 PetroEcuador open 125

Peru

95

Cuba

50

Bolivia

44

Guatemala

21

Chile

14

Suriname

10

Barbados

1

Total Latin America

10,456

World Total

75,461

*We will discuss these

from

Mexico Oil and Gas Basins

? Majority in the Gulf of Mexico

Hydrocarbon Productive Regions, 2000 (% of total production)



Gulf of Mexico Basins

5301 Tampico-Misantla Basin 5302 Veracruz Basin 5304 Saline-Comalcalco Basin 5307 Campeche-Sigsbe Salt Basin 5308 Yucatan 5310 Sierra Madre de Chiapas-Peten

Golden Lane

Mexico, Oil Exports

? OIL

Mexico has the fourth largest proven crude oil reserves in the Western Hemisphere after Canada, Venezuela, and the United States at 12.6 billion barrels. During the first 10 months of 2002, Mexico produced about 3.6 million barrels per day (bbl/d) of oil. Mexico consumed approximately 1.9 million bbl/d of oil in 2002, resulting in net exports of roughly 1.7 million bbl/d.

? About 1.5 million bbl/d of these exports were bound for the United States, making Mexico the third largest foreign supplier of petroleum to the United States.

? Mexico ranks as the world's fourthlargest oil producer, behind the United States, Saudi Arabia, and Russia.

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